Kansas City, MO (Nov. 16, 2021)
ÐÓ°ÉÊÓƵ Responds to FIO Request for Information on Climate-Related Financial Risks
The ÐÓ°ÉÊÓƵ (ÐÓ°ÉÊÓƵ) responds to the Federal Insurance Office’s (FIO) Request for Information (RFI) on the insurance sector and climate-related financial risks. As the primary regulators of this sector, state insurance regulators are on the frontlines of climate-related natural catastrophe preparedness and response, protecting policyholders and maintaining well-functioning insurance markets. This comment letter underscores how state insurance regulators have long been committed to monitoring and addressing how climate risks impact policyholders and the industry.
About the ÐÓ°ÉÊÓƵ
As part of our state-based system of insurance regulation in the United States, the ÐÓ°ÉÊÓƵ (ÐÓ°ÉÊÓƵ) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the ÐÓ°ÉÊÓƵ, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. ÐÓ°ÉÊÓƵ staff supports these efforts and represents the collective views of state regulators domestically and internationally.